The US Securities and Exchange Commission (SEC) yesterday cleared the way for asset managers Hashdex and Franklin Templeton to launch a crypto index exchange-traded fund (ETF).
The SEC’s approval covers two ETFs: the Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF, which will focus on both Bitcoin and Ethereum with a 80/20 average weighting. The ETFs will also allow for future additions to the portfolio.
This decision marks a significant step forward for the crypto industry, as it opens up a new avenue for mainstream investors to access digital assets.
Nasdaq, which initially filed a proposal for the Hashdex crypto index ETF in May, filed an amended proposal in September and finally received approval from the SEC on Thursday. Meanwhile, Franklin Templeton has been pursuing its ETF since September and also received approval for its proposal.
